GGU’s water utility business represents regulated natural monopoly in Tbilisi (the capital of Georgia) and its surrounding areas, providing potable water and wastewater supply services to c. 1.4 million residential and c. 37,000 commercial customers.
The water utility business’s investments in infrastructure significantly improve the quality of water supply and wastewater services to its customers, as well as contributes to achieving operational efficiencies. 2017-2019 were the most capital-intensive years in which the business invested more than GEL 400 million to upgrade aging water supply network and develop substantial new water utility infrastructure. During 2017-2020 the business rehabilitated c. 500 km of water and wastewater network, delivered c. 700 million cubic meters of potable water to end customers and connected over 16,200 additional customers to its water and wastewater network.
GGU’s water utility business represents the largest private player in water utility sector in Georgia.


Key highlights:

  • Regulated natural monopoly in Tbilisi and its surrounding areas with high entry barriers.

  • Full asset ownership of water and wastewater network and self-sufficient in terms of electricity usage.

  • Stable cash collection rates for both residential and commercial customers.

Operating environment:

  • Water utility business is regulated by an independent regulatory body in Georgia - Georgian National Energy and Water Supply Regulatory Commission.

  • Stable and transparent regulatory environment with fair return on investment (current regulatory WACC at 14.98%).

  • EU harmonization reforms in progress in utility sector, ensuring further improvements in water supply and sanitation services.